Gold and precious metal buying machine method

ABSTRACT

The machine or method buys gold or precious metal items. A housing with a vault is linked to a central office for tracking buy/no-buy sales events and uploading current exchange rate data. The item is placed on a platform leading to processing stations which weigh, image, assay and convey the item to the vault (buy) or return-route (no-buy). User display commands and offers-to-buy, capture user images, scan identity and biometric data and permit user-keyed input. A computer processor calculates a discounted market value based upon exchange rate, weight, assayed purity and discounts. A compiler stores seller&#39;s data including seller responses, images and scanner data and buy/no-buy data. An acceptance module initiates a credit event and delivers the item to the vault. A rejection module negates acceptance upon user command or if an error in gold purity, weight, discounted market value or size.

This is a regular patent application based upon and claiming thepriority of provisional patent application Ser. No. 61/618,540, fliedMar 30, 2012, the contents of which is incorporated herein by referencethereto.

The present invention relates to a gold buying and method and a preciousmetal buying machine and method.

Consumers and customers oftentimes have gold bearing items such asjewelry, fanciful dinner plates, coins and other items, as well as othertypes of items made of precious metals (silver and platinum). Some ofthese customers may wish to sell these items in a secure manner withsome confidence that the price is based upon an exchange rate marketprice for the gold or the precious metal. The present invention solvesthis problem.

U.S. Pat. No. 7,844,547 to Amos discloses a kiosk permitting consumersto buy and sell gold. The kiosk has a receiving slot for gold bullionand gold coin. Gold and jewelry placed in the kiosk can be assayed withelectrical and thermal conductivity, MRI or X-rays. However, Amos doesnot give further details of how the assay process is done on the goldand jewelry.

Published PCI Patent Application, WO 2011022424 to Kerschner discloses asystem for managing gold bullion transactions at a consumer-operatedkiosk by paying a transaction price when receiving authenticated goldbullion or when gold bullion is sold to a customer.

Published Japanese Patent JP 2002109428 discloses a gold exchange thatexchanges gold of predefined weight for currency, and connecting thegold buying machine to a central office to determine the market price ofgold at the time of settlement.

Published Japanese Patent JP 59108167 discloses unattended ATM machinewith access chamber for gold bullion.

U.S. Pat. No. 6,415,271 to Turk et al, discloses asset-based electroniccash system for financial transactions whose total value is equal to thestored amount of valuable commodity.

U.S. Pat. No. 7,752,108 to Pratt et al. discloses asset-backedpurchasing module to debit the consumer account by selling quantity ofasset backing purchase account balance to house account.

Other U.S. patent and patent application references that may be relevantare: U.S. Pat. No. 6,131,085 to Rossides entitled Answer Collection andRetrieval System Governed by a Pay-Off Meter; U.S. Pat. No. 8,015,089 toBaya'a et al. entitled System and Method for Providing a Pre-PaidCommodity-Based Credit Account; U.S. Published Patent Application No.2011/0071668 to Lin et al. entitled Vending Machine Monitoring Systemand Its Monitoring Method; U.S. Published Patent Application No.2011/0060655 to Novak et al. entitled Currency Market Utilizing PreciousMetals and Gemstones; U.S. Published Patent Application No. 2010/0223127to Bettez et al. entitled Method and Apparatus for Managing Shipping andAdvertisement Information in a Communications environment; KoreanPublished Patent Appln. KR 20090093231; Korean Published Patent Appln.KR 20090093225; Published PCT Patent Application, WO 2011078765 entitledInteractive Kiosk; Published PCT Patent Application, WO 2011011942entitled Automatic Gold Bar Vending Machine; and Published PCT PatentApplication, WO 2004001562 entitled Systems and Methods for Storage ofUser Information and for Verifying User Identity.

OBJECTS OF THE INVENTION

It is an object of the present invention to provide a gold buyingmachine capable of buying a number of gold bearing items and a similarmachine for buying items containing other precious metals. A method isalso presented herein.

It is a further object of the present invention to provide a gold buyingmachine which presents the price or offer to buy prior to the consumeraccepting the offer.

It is another object of the present invention to provide a gold buyingmachine and a method and a precious metal buying machine and methodwherein the offer to buy presented to the consumer is based upon theexchange rate market price less a transaction or discount fee. Thetransaction fee accounts for size, weight and volume errors, thepresence of jewels, as well as fraud, theft and other system costs.

It is another object of time present invention to provide a gold buyingmachine and as precious buying machine which reduces fraud by capturinguser supplied data based upon questions presented to the user at theseller interface module. The seller's interface module includes adisplay screen, keypad, fingerprint reader, multiple cameras, creditcard and driver license readers, and audio announcer systems. Voiceprint recorder may also be used.

The system is also programmable to capture customer data based uponlocal ordinances governing pawn shop operations.

SUMMARY OF THE INVENTION

The machine and the method for buying gold-bearing items (or other itemsmade of precious metal) from consumers includes a secure housing with aninternal vault. The machine is coupled via a telecommunications link toat central office which tracks the purchase of gold-bearing items at themachine and tracks related transactions (attempts to sell gold items atthe machine) and provides updates relative to the exchange rate marketprice data for gold. The housing includes a portal leading inboard to aprocessing platform which holds the gold or precious metal bearing item.A plurality of processing stations are disposed in the interior of thehousing. A lock-out door closes the portal during item processing.

The plurality of processing stations include: a weigh station to weighthe gold-bearing or precious metal-bearing item, an imaging station forcapturing images of the item, an assaying station for testing a purityof gold in the item, and a conveyor or routing transport system fordelivering a purchased item to the vault. The weigh station, imagingstation and assaying station respectively generate representativesignals for weight, item images and assaying data. A plurality of sellerinterface modules are disposed on the exterior of the housing includinga display, an imaging system to capture one or more images of theseller, at least one scanner for obtaining seller's identity andbiometric data, a keypad input interface and a bank card reader adaptedto read the seller's bank card. The seller's bank card is linked to theseller's account which, if the sale is consummated, is credited afterthe gold-bearing item is deposited in the vault.

A control computer processor electronically obtains the respectiveweight, item images and assaying signals from the processing stations.The processor is mounted in the secure housing. The control processorincludes: a communicator for facilitating communication with the centraloffice to obtain current exchange rate data for the gold; as calculationmodule for determining a discounted market value for the gold-bearingitem based upon the exchange rate data, and the weight signals, a puritybased upon the assaying data, and the discount factors; and an interfacefor activating the user's display. The display shows instructions to theuser regarding acceptance and rejection of the offer to buy, and theoffer to buy the item at the determined or calculated market value(discounted from the calculated exchange rate value).

A compiler operative with the processor stores seller's data obtainedfrom the seller interface modules including seller responsive data(responsive to the displayed offer to buy), seller images and scannerdata for seller's identity and biometric data. The compiler also storestransactional data. An acceptance module initiates a credit event forthe seller's account based upon the seller's confirmation of sale. Theconveyor or router delivers the purchased item to the vault in thesecure housing. If the user does not sell the item (rejects the offer tobuy), a rejection module negates the acceptance module. A rejection alsois initiated when an error signal is detected. An error module generatesan error signal based upon one or more of: a gold purity fault, a weightfault, a discounted market value fault, and an item size fault. Therejection module facilitates the return of the item to the user.

BRIEF DESCRIPTION OF THE DRAWINGS

Further objects and advantages of the present invention can be found inthe detailed description of the preferred embodiments and in theillustrated drawings of the preferred embodiments of the invention.

FIG. 1 diagrammatically illustrates the gold buying and precious metalbuying machine with operational modules;

FIG. 2 diagrammatically illustrates other functional modules in the goldbuying and precious metal buying machine;

FIG. 3 diagrammatically illustrates stations which process the itemsubject to the purchase;

FIG. 4 diagrammatically illustrates a different configuration for thestations wherein the item is stationary.

FIG. 5 diagrammatically illustrates time based processing of the itemsubject to the potential purchase;

FIGS. 6A-D diagrammatically illustrate several operational flowchart;and

FIG. 7 diagrammatically illustrates the computerized network which istied to the gold and precious metal buying machine.

DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENTS

The present invention relates to a gold buying and precious metal buyingmachine and a computerized system for tracking the sales and updatingbuying parameters in a plurality of remote buying machines. Althoughreference is made herein to a “gold buying machine” or “GBM” themachine, system and process can be employed with other previous metals.Therefore, the reference to a “gold buying machine” or GBM is notlimited to gold items but the GBM also operates on precious metal items.

The general features and functions of the GBM machine are as follows.(1) Customer places gold-bearing item (“gold”) into a Gold BuyingMachine (“GBM”), a solid, secure machine like an ATM or automatic tellermachine; (2) Gold is dropped or shuttled to a “Weigh+Exam” plate orbowl; (3) At the W-E station or stations, the gold is weighed and ax-ray image or images are obtained of the gold piece. Prior to the x-rayanalysis, the piece is grabbed or gripped, and then a jeweler's file isused to make a small cut on the surface of the piece. The x-ray gun andx-ray processing system uses the small file slot to detect the percent %gold of the piece under study; (4) The x-ray is used to assay the gold.A computer algorithm (i) obtains current local price per weight (14Kstandard) (Internet access); (ii) the computer system or processor inGBM calculates the price of the gold accounting for % gold per unitweight; (iii) the GBM computer discounts “offer to buy gold” to accountfor transaction costs, fraud, commissions, etc.; (iv) GBM machinedisplays the discounted “offer to buy” gold and customeraccepts/declines offer. If a BUY, GBM machine dispenses cash orinitiates a credit event (issues credits) on a customer's debit card orcredit card. GBM then places the gold piece or item in a secure vault inthe interior of the GBM. If NO BUY, then GBM returns item to customer;(5) The GBM has the following data processing items: (i) obtain customerfingerprint, photo and scan customer id, such as a driver's license;(ii) obtain customer profile data (requires data input from customer);(iii) customer completes local law “gold purchase” log sheet (Q: is goldstolen?; are you a felon?, etc); (iv) large gold items rejected(returned) to customer as “too big”; (v) thick gold items rejected(returned to customer) due to “fraud by weight” tricks.

FIG. 1 diagrammatically illustrates a gold buying machine GBM 51 whichcan also be configured as a precious metal buying machine. Housing 50 isdesigned to be secure and difficult to break into. Vault 52 is disposedin an interior location within housing 50. Housing 50 includes anopening or portal 54 into which a consumer or user places an item 55subject to a potential purchase. Portal 54 has a lockout door 56 whichcloses and thereby secures item 55 within the machine for processing.The door closes before any processing function.

Machine 50 includes a plurality of seller interface modules. Examples ofthese modules includes display screen 58, a camera 60 which captures animage or images of the seller (multiple cameras may be used), an audioannouncer or speaker 62, an identity (Id.) card scanner 64, a keypad 66which permits the user to input items and a fingerprint reader 68.Keypad 66 may be a discrete unit or may be part of a touch screendisplay as part of display screen 58. Scanner 64 is configured to scanvarious seller identity cards (driver's license) as well as a seller'sbank card. Reference to a “bank card” includes a credit card, debit cardor any other financial card issued by a financial institution. From anoperational standpoint, a seller's account associated with a bank cardwill be credited at the time of sale of the item by GBM buying machine51.

The seller interface module may also include a separate credit card orbank card reader 70, a cash dispenser 72 and a printed materialdispenser 74. All these items are explained later in their operationalsetting. The primer 74, display 58, camera 60 and user input (66 ortouch screen 58) are important parts of the seller interface modulegroup.

Once gold or precious metal bearing item 55 is placed on a processingplatform within housing 50, in one embodiment, the item 55 istransported to a variety of processing stations, stations 1, 2, 3 and 4.Reference is made herein to “gold bearing item” but this reference alsocovers other precious metal items. If the consumer does not accept theoffer to buy, item 55 is returned as noted by the return path of thedash dot dash double lines. If the seller agrees and confirms the sale,the item 55 is delivered to vault 52 within buying machine 51.

In order to provide up to date data regarding exchange rate marketprices and in order to track transactions, buying machine 51 has atelecommunications link with central office 18, 20 (described in thesummary in connection with FIG. 7 that follows). Central office 18, 20is coupled to telecommunications system 10 and other GBM machines 14aand 16a. Further, the telecommunications system 10 is coupled to a goldexchange data center which generates exchange rate market price data forthe system. Of course, rather than having a gold buying machine, themachine may be expanded to include other precious metals.

FIG. 2 diagrammatically illustrates certain hardware and electronicmodules utilized by buying machine 51.

Main computer processor 80 is disposed inside housing 50. Varioussignals from camera-A, identified as camera 82, as well as the outputsignals from camera-B are fed to signal conditioner 84. In order toassay the item and determine the amount of gold and other preciousmetal, an X-ray imaging system 86 is utilized. The output from X-raysystem 86 is fed to signal conditioner 84. In order to convert andobtain the market value of the item under study, the item is weighed asnoted by weigh scale or weighing device 87. The output from weight scale87 is applied to signal conditioner 84. By using X-ray imaging system86, the item under study is first gripped and then a small slot orgroove is filed in the item. A jewelers file 90 is deployed on the gripand file module 92. Grip elements 94 initially grip the item and file 90is then moved across and over the item. Thereafter, X-ray sub-module 86takes an X-ray picture and generates assay data signals which areapplied to signal conditioner 84. The grip and file unit 92 iscontrolled by an actuator signal generator 96. Generator 96 controls thegrip action and the file action. Robotics modules are employed in thismanner. With respect to main processor 80, the processor obtains many ofthe inputs from the seller interface module 89 modules 98. Processor 80interacts with module 89 modules 98. As explained earlier, this module89 includes these modules 98 include display 58, keypad 66, ID scanner64, fingerprint reader 68, camera 60, audio speaker 62, printer 74, bankcard reader 70 and potentially cash dispenser 72. The inputs and controlof the seller interface module 89 is modules 98 are established by mainprocessor 80.

Outputs from signal conditioner 84 are fed through various functionalmodules. The functional modules may be software, hardware or acombination. X-ray processor 110 obtains the X-ray signal fromconditioner 84 and determines the percentage gold by a known method.Value calculator 112 accepts as an input the percentage gold factor(potential a carat signal), as well as the weight signal from weighstation 87. Further, value calculator 112 obtains an update for theexchange rate market price for the gold piece or precious metal piece.As explained later, this is generated from the central office. Imageprocessor 114 obtains gold bearing item 55 images PIX from camera CAM-Aand CAM-B as well as seller interface camera 60 (FIG. 1). These imagesare processed. Particularly an edge detection routine 116 processes theimage of the item 55. The edge detection is used in robotics control(grip and file 92) and item volume calculations. In module 118, anestimate volume is computed based upon item images. The width, heightand depth of the item is studied, detected and processed to obtain anestimated volume value. Other image processing techniques may be used todetect width, height and depth, as well as the volume of item 55. Thecameras may be visual, IR or uv. The x-ray image may be used for volumecalculation and robotic control. If the item is too small, an errorsignal by processor 80 is generated as noted by error module 120. If theitem 55 is too large either by weight, height, width or depth, an errorsignal is generated. These error signals are stored in the database 133along with the seller information. This is part of the anti-fraudprevention of the present invention (especially for weight fraud). Otherimage processing techniques may be employed such as a color filters inorder to locate the edges and determine depth or identify jewels.Further, a number of cameras may be employed rather than one or two asshown in the drawings in order to obtain a complete picture of the itemsubject to the sell. In a customer dispute, these images are useful fordispute resolution.

Processor 80 includes a grip positioning and an actuator control 112 113as well as a file control 114. The output from grip actuator control 112113 and file control 114 is applied to actuator signal generator 96 andultimately the commands to grip the item and file the item are appliedto grip and file module 92. The commands initiate from the processor.

Once the item under study has a small slot file on it, an X-ray image istaken and this data is ultimately applied to value calculator 112. Thevalue calculator is a determining device for determining the discountedmarket value for the gold bearing item based upon the exchange ratedata, the weight signal obtained by weighing the item, and the puritybased on the assaying data from module 110 and further discount factors.These further discount factors include transaction fees, fraud relateddiscounts and other items discussed later herein. For example, thepresence of non gold elements (jewels) on a gold plated bearing itemincreases the discount fee. Additional image processing may be employedby main processor including the use of color detection and color filtersand imaging algorithms known to persons of ordinary skills in the art.

As an example of fraud, if the estimated volume, coupled with a goldweight per volume factor (multiple factors for 14K, 12K etc.) reveals aresult which is significantly different (beyond a differentialthreshold) than the actual weight of the item, that is an indication offraud by the consumer. For example, lead is heavier than gold and thiserror is detected by the GBM. In such a situation, the error routine 120is activated and the item is returned to the user. Otherwise for a buycycle, discount unit 125 applies the discount to the true or actualexchange rate market price of item 55. This discount may be permanentlystored in buying machine 51 or may be supplied periodically by centraloffice 18, 20. There may be a table of discount factors accounting forsize, weight, purity, number of jewels, etc. or a discount matrix(weight vs. category (size, type of item (see list)) vs. assayed purity)may be used. Module 126 displays the fully discounted offer to buy tothe customer. Typically, this display occurs on display screen 58. Ifthe customer confirms the purchase via keypad 66 or other mechanism, thesystem affects a credit to be issued to the seller's account linked tothe seller's bank card. Module 128 recognizes that there is anincremental credit applied to the credit account of the user or theseller. In some situations, GBM 51 may pay out cash from cash dispenser72. Module 129 recognizes that a print receipt 130 documents thetransaction for the customer. With respect to the display discountvalue, display incremented credit account, and print, those datafunctions are all applied by processor 80 to seller interface modules 98described earlier in connection with FIG. 1.

However, prior to presenting an offer to buy, the seller must inputsignificant information about himself or herself into GBM 51. Compilerunit 132 gathers all the seller's profile data, from ID scanner 64,fingerprint reader 68, keypad 66 and others. The data is stored in acompiler data base database 133 or memory unit. Further, the buyingmachine 51 may display questions on display screen 58 which arecompelled by the federal or local government. For example, questionsregarding: “Is this a stolen item? Are you a convicted felon? Has thisitem been previously sold to a pawn shop?” are all potential governmentrequired questions. The seller's responses are collected via a keypad orother mechanism and ultimately are stored in compiler 132.

FIG. 3 diagrammatically shows one methodology for operationallyprocessing the item 55 subject to the transaction. Once door 56 isopened (door 56 is normally closed), the user can place the item subjectto the potential sale onto a processing platform 135. This processingplatform 135 may move through a defined track within housing 50. Station1 is a weigh station. Station 2 identifies the item subject to thepurchase. Station 3 is an assay station where the gold value or otherprecious metal value is determined. Station 4 is a routing stationwherein either the item is placed in vault 52 or the item is returned byreturn item path to the portal 54 and lockout door 56. Generally duringprocessing, lockout door 56 is closed. Once the item is returned, door56 is open and the user can withdraw the item from the machine. Step 5is a cleaning station such that gold dust or other material caused bycreating the small slot in item 55 is removed from the processingplatform 35.

FIG. 4 shows a different configuration for the processing stations.Other processing methods, different than FIGS. 3 and 4, may be used. InFIG. 4, processing platform 135 is near lockout door 56. In FIG. 4, theworking modules are mounted above a plate of processing platform 135 onan elevated operating platform 156. Typically, grip and file unit 92 isdisposed well above lockout door 56 by withdrawing articulating ars 138.Above the operating theater of processing platform 135 is a plurality ofitems including item cameras 82a, 82b and 82c. Further, two X-rayimaging systems 86a, 86b are utilized. In order to clean the processingplatform 135, clean air blowers or fans 140 are disposed above onplatform track 156. In order to deliver the item to the vault, platform135 rotates downward as shown by arrow 141. This is caused by actuatorarm 142 being drawn into actuator body 144. Processing platform 135rotates as shown by arrow 141 about pivot point 146. Any item 55 on theplatform will be dropped into the interior of vault 52 while the vaultdoor 147 is open. The elevated operating platform track 156 may bestationary or may rotate to better position the functional modules nearitem 55 on platform 135.

FIG. 5 diagrammatically illustrates the process and the stations spacedapart in time rather than physically spaced apart. Station 1 at time t-1notes that processing platform 135 retains the item 55 (not shown) andweigh module 160 is weighing the goods 55. The weigh platform 163 forweigh module 160 is raised to weigh processing platform 135 and carryingitem 55 by up and down movement 161 of weigh module 160. At station 2 attime t-2, images of the item 55 are taken by cameras 82a, 82b. At thatpoint, the plunger on weigh platform 163 for weigh unit 160 has beenretracted below the plane established by base 167a.

At station 3 and time t-3, the imaging cameras are used to guide thegrip unit 92 to a position close to the item (not shown) such that griparms or fingers 94 can grip the item. At station 3, time t-4, a jewelersfile 90 is utilized to file a small slot in the jewelry piece of thestudy. File 90 moves back and forth as shown by arrow 139.

AAt station 3 at time t-5, an X-ray image by X-ray camera 86 is taken.The image is taken of the slot created by the jewelers file in order todetermine the quality of gold in the item (carat value). The slotenables the jeweler and the X-ray gun 86 to penetrate the surface inorder to determine how deep the gold is and hence how valuable the itemis. Also, the filing operation identities gold plated items.

At station 4, time t-6, the assay step has been completed and the userhas confirmed the sale to the system operator of GBM 51. The systemoperator is the party operating the buying machine 51. In oneembodiment, a lower support wall 165 is moved as shown by arrow 167leaving a space 169 open. A pin or rod 166 is raised above the supportplatform base 167a thereby lifting one end of operating processingplatform 135.

At station 4, time t-7, processing platform 135 has been fully extendedto a near vertical position due to the upward movement of push rod 166.Space 170 169 has been opened in the base platform to permit the itemunder study (the assayed piece) to fall down into a routing systemcreated by route lever arm 172. As shown in FIG. 5, route door or arm172 causes any item passing through opening space 170 169 to fall intovault 52. In another mode of operation, wherein route door 172 moves tothe dashed position 171, the item under study is transported via returnchute 175 to the customer. Vault 52 has a door which is opened uponextension of rod 166 and closed upon delivery of item 55 in the vaultspace. Imaging cameras may confirm delivery of the item into the vault.

FIG. 6A diagrammatically illustrates functional operational blocks forthe general operation of the present gold and precious metal buyingmachine and method. The flowchart consists of FIGS. 6A, 6B, 6C and 6D.The program elements are linked together by jump points 1-1, 1-2 and 1-3in the various figures.

In step 180, the program initializes and the portal door 56 opens. Instep 182, a photograph or image of the customer depositing the itemunder study 55 into the portal 54 is taken. In this manner, anti-fraudprovisions are developed by the program, machine and method. In step184, the customer puts the piece under study in the gold buying machine(GBM machine) that is, gold and precious metal buying machine 51. Acustomer input 183 is noted as the customer deposits item 55 into theoperating platform through portal 54. In step 186, the system obtains animage or photo of the item. This is used in order to avoid fraud and tofurther document exactly what is placed in the machine for assaying. Theimage is stored with the customer profile ID data. Step 188 displays tothe customer the contract for the GBM testing. As noted earlier, thepiece under study is slightly altered in order to determine the gold orprecious metal content. The customer should agree to the GBM contractbefore such activity. Step 190 accepts customer input 181 189 whereinthe customers accepts or rejects the contract. If rejected, step 191returns the piece to the customer by opening lockout door 56. Earlier,immediately after step 184, the lockout door 56 would be closed therebysecuring the piece within machine 50 51. If, in step 190, the customeraccepts the contract, the acceptance path 201 is followed and, in step206, the machine closes lockout door 56. As described earlier, thiscould be an alternative to closing the lockout door after step 184. Instep 208, the machine takes another image of the piece under study. Step210 involves obtaining the weight of the item under study. Step 212 is atest to determine whether the piece under study falls within weightlimits. These minimum and maximum weight limits are discussed later. Ifthe piece under study is not within the minimum and maximum thresholdsor predetermined limits, rejection REJ step 213 is engaged and the pieceis returned to the customer. If the piece under study falls within theminimum and maximum weight limits, acceptance ACC path 211 is followed.In step 214, the machine grips the item with assistance of the image.

With a high quality image and, more importantly, multiple images of theitem under study taken by several cameras in the machine, computerprogram software and hardware can detect the edges of the image and theshape of the image. A computation of shape and size and volume can bemade. The volume may be estimated since the discount rate accounts forvolume errors. With the computation of shape and size, a mechanical armcan be directed to grab the piece or grab several segments of the pieceunder study in order to secure the piece for the filing operation.

FIG. 6A is joined to FIG. 6B at jump point 1-2 1-1. In step 216, themachine and method uses a small jewelers file to file a 1-3 mm. slot orgroove of the piece under study. Step 218 x-rays the piece. Step 220processes the x-ray data and determines the percentage of gold or otherprecious metal of the piece under study. This is an assaying step. Step222 withdraws the grip which retains the piece during filing operation.Of course, the grip may be withdrawn prior to x-ray step 218 and assay220. In step 224, another image or multiple images of the piece areobtained. In this manner, the customer and the system operator haspre-assay pictures and post-assay pictures of the piece strider study.In step 226, the computer program can estimate the volume of the pieceby determining, through edge detection and image processing, the width,height and depth (W, H, D) of the item. In step 228, the systemcalculates the minimum and maximum volumes for the item and thepercentage of gold with the x-ray assay data. The percentage of gold canbe estimated at 14K, 18K and 12K dependant dependent upon the assaydata. In step 230, the estimated weight given the estimate estimatedvolume multiplied by the predetermined gold percentages percentage ischecked against the actual weight. If the actual weight of the piecevaries considerably beyond the 12K, 14K and 18K estimated volume-weight,the system rejects the item in step 231. If the actual weight of theitem falls within the estimated thresholds, the acceptance path leads tostep 232. In step 232, the system calculates the actual gold amount fromthe x-ray based upon the assayed percentage of gold and the actualweight. Also, the machine and method accepts information regarding thecurrent market price of the gold by input 229. FIG. 7 shows the marketdata update system.

FIG. 6B is coupled to FIG. 6C by jump point 1-2. In step 236, the systemdiscounts from the calculated value of the piece a certain percentagefor transaction cost, fraud and other market conditions and operatingsystem or transaction fee costs. As an example, the system may discountthe actual price of the precious metal item under study by 15%. The 15%represents profit to the system operator, a set aside reserve for fraudand other transactional costs. A volume error factor may be anadditional discount. Step 238 detects the number and size of stones inthe image. This is done by obtaining one or more photographs, conductingedge analysis and light reflection analysis and also determining stonesby common shapes such as round, oval, marquis, and other imageprocessing techniques. In step 240, the percent of stone image isdetermined as a ratio of the volume of the piece under study whichvolume is estimated from step 226. In step 242, the system applies anadditional discount to the value of the piece under study due to thepresence of stones or jewels. In step 244, an offer to buy is presentedto the customer. The offer to buy should be commensurate with similaroffers in the local jewelry and pawn business.

When the offer to buy is presented to the customer in step 244, thecustomer engages and applies an input into the machine 51 and the methodin step 246 requires that the customer either accept or reject the item.If the item is rejected, the piece under study is delivered back toportal 54, the lockout door 56 is opened and the customer is permittedto remove piece 55 from the machine. If the customer accepts the offerto buy, in step 248 certain information is obtained from the customer.This information includes identity information, further images andphotographs of the customer, credit card information, a fingerprint ofthe customer and potential an audio voice print of the customer.Therefore, scanner 64 may be used for a driver license scan. Fingerprintreader 68 captures the fingerprint of the user. The machine 50 51 mayalso include a microphone to capture a voice print. Camera 60 capturesseveral images of the customer. Therefore, steps 250, 252, 254 and 256gather all this customer data. The customer data is put in a customerprofile which documents all offers and all attempted sales byprospective customers (a fraud detection function). Jump point 1-3 inFIG. 6C leads to FIG. 6D.

In FIG. 6D, step 260 checks the customer against a potential list offelons. This may involve a communication with the central office asdiscussed earlier in connection with FIG. 1. This background check instep 260 is optional. Step 262 determines, either by the system operatorat the central office or based upon information stored in machine 50 51,whether the transaction is acceptable. If not, the NO step is taken atpath 263 and, optionally, the police are called in step 265 and the itemis rejected. A police call in step 265 may be reasonable if the itemunder study matches data associated with stolen piece database. If thesystem accepts the background check from step 262, the system executesstep 264 which requires the customer to input information regarding howthe customer is to be paid. The customer has several options. He or shemay be paid by a credit applied to a credit card or a debit card. Thecredit card or debit card is read by credit card reader 70.Alternatively, machine 50 51 may have a cash dispenser 72 whichdispenses cash. In any event, step 266 prints out a receipt for thecustomer by printer 74. In step 268, the item under study is placed invault as noted by vault route 269. Step 271 locks the vault for securestorage. Step 270 cleans the operating tray platform (tray) such thatany gold dust from previous operations is no longer affecting the weightof newly submitted items. In FIG. 5, station 4 at time t-8, fan 140 isoperated which blows the gold dust from operation platform 135. Othertechniques and methods for cleaning tray 135 may be utilized. For allother rejected modes as noted in step 275, the tray is cleaned. In step272, the system is reset. In step 274, an update is provided to thecentral office regarding the completed transaction. Further, customerprofile data may be uploaded to the central location.

The GBM can be configured to process gold, silver, and platinum.Therefore, all references herein to gold are equally applicable to otherprecious metal. The following table lists examples of items to be testedand potentially purchased at the GBM. Some weight and volume and sizelimits apply.

Bracelets Necklaces Rings Pendants coins Brooches cuff links EarringsBullion Gold Bars Eating Plates Knives Forks Spoons Pins (largeornamental jeweled pins) Money clip body Jewelry (piercing) studs, ringsDental teeth gold, silver, or platinum

Currently, item size limits are 3 inches maximum, ⅙ inches minimum;minimal size limits: ¼ inch length, ¼ inch height, ¼ inch depth; maximumsize limits: 3 inches, 12 inches in length, 6 inches in height; andweight limits are 1 g. to 1-2 kg.

Since stones weigh less, they do not greatly effect the value of thepiece. If the stones are less than 20% of the volume (estimated by thephoto images), then an additional discount of 5% is not unreasonable. Ifstones are more than 20% of the volume, the piece may be rejected by thesystem. The fraud typically arises with a weight that is greater thanthe computed estimated weight based upon gold % and an estimated volume.

Gold buying parameters include: the current (daily posted, weeklyaverage or monthly average) price of gold, the discount rate for thegold buying system and the transaction fee for particular gold buyingmachine.

Throughout the description of the present method and system,abbreviations are sometimes utilized describing certain features. Thefollowing Abbreviations Table lists these items.

ABBREVIATIONS TABLE w, h, d width, height, weight acc accepted, such asa customer accepts an offer to buy admin administrator ASP applicationservice provider - server on a network API application program interfacead advertisement bd board calc calculate cam camera, maybe a commoncamera or an x-ray camera cat category CD-RW compact disk drive withread/write feature for CD disk ck check or confirm comm. communications,typically telecommunications CPU central processing unit cmd command cntcontent cr cd credit card or debit card db data basedatabase dispdisplay or code disp'r dispenser, such as a unit to dispense or returnthe item doc document dr drive, e.g., computer hard drive descrptdescription dy day equip equipment empl'r employer empl'ee employee ententertainment (while the GBM operates, entertainment may be displayed tothe customer err error est estimate freq frequency fnc function, as insystem function geo geographic location or code gen general gov'ntgovernment, as in government regulations hist historic as in historicsession records id identity card I/O input/output IP Internet Protocolsuch as IP address iner increase or increment K karat as in a Karat ofgold kypd keypad, maybe mechanical or virtual, touch screen keys loclocation max maximum mem memory mess message as in SMS or text messagemgr manager min minimum mth month obj object, for example, a data objectopt optional step or module pgm program P/W password Pg web page pixpicture, usually digital picture or image pmt payment pmpt prompt, as inprompt a user to input data pp impress per page impression or view pm nprint prnt printer or to print Q quantity quest question rcd databaserecord or record profile re regarding or relating to read a reader, suchas a credit card reader reg'd registered as in reg'd user rej reject relrelevancy or relevant reqt request rev review rpt Report sch. searchsched schedule sel select or selector si sillets interface modules sigcond signal conditioner st station sys system sys oper system operatorsess. session t time tele-com telecommunications system or network TStime, date stamp txt text URL Uniform Resource Locator, x pointer, orother network locator vid video vol volume wk week wt weight

FIG. 1A 7 diagrammatically illustrates the global telecommunicationssystem or Internet 10 which enables communication and data transportbetween a plurality of relatively independent GBM computer systems 12,14, 16, 17 14a, 16a, 18 and 20. Communications System 10 may includecellular or wireless comm channels to the gold buying machines. A Asindicated earlier, each gold buying machine includes a computer system,therefore, systems 14, 16 14a, 16a in FIG. 1A 7 depict the computersystem sin systems in the gold buying machines. Computer system 12includes monitor 22, input device or keypad 24, input device or mouse26, and processor unit 28. Processor unit 28 includes a centralprocessing unit or CPU 30, memory 32 and an input/output or I/O device34. It should be appreciated that memory 32 represents many types ofdata storage including hard drives, volatile and non-volatile memory,and removable drives. Also, I/O 34 represents a plurality ofinput/output devices which are utilized to couple items which areperipheral to processing unit 28. I/O 34 is connected to Internet 10.Computer 17 is a laptop computer which can easily be disconnected fromInternet 10. Computer 18 is an administrative computer which assists inthe overall control and operation of the system by the Sys Op and themethod described herein.

In a preferred embodiment, the system and method are deployed onInternet 10 via computer system server 20. The telecom system may bewired, wireless or a combination of both. Server 20 includes CPU 36,memory 38 and I/O 40, and is coupled to Internet 10.

In a different embodiment of the present invention, the system orprocessing system or method may be partially or entirely carried outwith the use of a telephone communications center 42. The telephonecommunications center typically includes one or a plurality of computers44 and one or more telephones 46. Human operators may answer telephoneinquiries from a customer at a gold buying machine. Also, the Tele Commmay be fraud detection system which in real time can stop the goldbuying transaction.

For example, once the customer's id is scanned by the gold buyingmachine, if the id matches a “wanted criminal” in a database (as postedby the police authority), then the Tele Comm center may cancel a goldbuying transaction in the middle of the transaction. Also, the Tele CommCenter may notify police of the incident.

The input of information can be facilitated by a person at telephonecommunication communications center 42. For example, computer 44 coulddisplay questions which the operator could audibly present via telephone46 to a caller. The operator would input into computer 44 the caller'sanswers and system 44 communications center 42 could generateappropriate responses to complete data entry forms for the system.

The information obtained by computer 12 is generally stored in server20. Thereafter, the information is processed by server 20 and the outputinformation representing processed data is delivered via Internet 10 orTele Comm Sys 10, and ultimately to computer 12, 14, 16 14a, 16a. FIG.1B 7 shows that data input by a customer is sent to the server 20 whichreturns further web page data A4. The web page may be informational tothe buyer at the gold buying machine.

Although the system and method is described generally for use inconjunction with Tele Comm Sys 10, the system and method could beutilized by a single computer, such as laptop operated by a Sys Op or ajewelry store or pawn shop owner. Laptop 17 The laptop could be utilizedwith a CD-ROM storing a major portion of the data bases databasesnecessary to carry out the principles of the present invention. Further,the information processing system could be deployed over a local areanetwork or a wide area network or utilized exclusively in-house by asingle company with subsidiaries bidding for a gold buy.

Discussion of Hardware and Software Implementation Options

The present invention could be produced in hardware or software, or in acombination of hardware and software, and these implementations would beknown to one of ordinary skill in the art. The system, or method,according to the inventive principles as disclosed in connection withthe preferred embodiments, may be produced in a single computer systemhaving separate elements or means for performing the individualfunctions or steps described or claimed or one or more elements or meanscombining the performance of any of the functions or steps disclosed orclaimed, or may be arranged in a distributed computer system,interconnected by any suitable means as a local area network (LAN) orwidely distributed network (WAN) over a telecommunications system (suchas the Internet) as would be known to a person of ordinary skill in theart.

According to the inventive principles as disclosed in connection withthe preferred embodiments, the invention and the inventive principlesare not limited to any particular kind of computer system but may beused with any general purpose computer, as would be known to a person ofordinary skill in the art, arranged to perform the functions describedand the method steps described herein. The operations of such acomputer, as described above, may be according to a computer programcontained on a medium for use in the operation or control of thecomputer, as would be known to person of ordinary skill in the art. Thecomputer medium which may be used to hold or contain the computerprogram product, may be a fixture of the computer such as an embeddedmemory or may be on a transportable medium such as a disk, as would beknown to one of ordinary skill in the art.

The invention is not limited to any particular computer program or logicor language, or instruction but may be practiced with any such suitableprogram, logic or language, or instructions as would be known to one ofordinary skill in the art. Without limiting the principles of thedisclosed invention any such computing system can include, inter alia,at least a computer readable medium allowing a computer to read data,instructions, messages or message packets, and other computer readableinformation from the computer readable medium. The computer readablemedium may include non-volatile memory, such as ROM, flash memory,floppy disk, disk drive memory, CD-ROM or other optical memory storagedevices, and other permanent storage. Additionally, a computer readablemedium may include, for example, volatile storage such as RAM, buffers,cache memory, and network circuits.

Furthermore, the computer readable medium may include computer readableinformation in a transitory state medium such as a network link and/or anetwork interface, including a wired network or a wireless network, thatallow a computer to read such computer readable information.

The claims appended hereto are meant to cover modifications and changeswithin the scope and spirit of the present invention.

What is claimed is:
 1. A machine for buying gold-bearing items fromconsumers, the machine coupled to a central office via atelecommunications system for tracking the purchase of gold-bearingitems and related transactions by the machine and providing updatesrelative to the exchange rate market price data for gold to the machine,comprising: a secure; a vault within the housing; a portal in saidhousing leading inboard to a processing platform and a plurality ofprocessing stations in the interior of said housing, said processingplatform adapted to retain said gold-bearing item as deposited throughsaid portal; said plurality of processing stations including: a weighstation to weigh said gold-bearing item, an imaging station forcapturing images of the item, an assaying station for testing a purityof gold in said item, and a conveyor means for delivering a purchaseditem to said vault, said weigh station, imaging station and assayingstation respectively generating representative signals for weight, itemimages and assaying data; a plurality of seller interface modules on andabout an exterior of said housing including a display, an imaging systemto capture one or more images of said seller, at least one scanner forobtaining seller's identity or biometric data, a keypad input interfaceand a bank card reader adapted to read a seller's bank card linked to aseller's account to be credited for the sale of said gold-bearing item;a control processor electronically obtaining respective weight, itemimages and assaying signals from said processing stations and beingdisposed within said secure housing, said control processor: an inputoutput module to said central processor and further coupled, via saidtelecommunications system, to said central office to obtain exchangerate data for said gold from said central office and outputting saidexchange rate data to said central processor; a calculator module aspart of said central processor determining a discounted market value forsaid gold-bearing item based upon said exchange rate data, said weightsignals, said assaying data, and discount factors; a compiler as part ofsaid central processor, coupled to said display to compile and presentinstructions regarding acceptance and rejection, and an offer to buy theitem at the discounted market value; said compiler obtaining and storingseller's data from said seller interface modules including sellerresponsive data from said instructions and including seller images andscanner data for seller's identity and biometric data, said compileralso storing transactional data; an acceptance module as part of saidcentral processor adapted to initiate a credit for the seller's accountbased upon a seller's confirmation of sale from said seller interfacemodule; said conveyor coupled to said acceptance module, delivering thepurchased item to said vault upon confirmation of sale; a rejectionmodule adapted to negate said acceptance module upon either a seller'srequest from said seller interface modules or a detected error signal;and, an error module, as part of said central processor, for generatingthe error signal based upon one or more of: a gold purity fault, aweight fault, a discounted market value fault, and an item size fault;said compiler storing said error signal with said seller data.
 2. Amachine for buying gold-bearing items as claimed in claim 1 wherein saidinput output module includes a transaction module to effect the creditto the seller's account based upon said seller's confirmation and thedelivery of the gold-bearing item to the vault via said acceptancemodule and to monitor seller's data, confirmation, a seller's request toreject the transaction and error signals.
 3. A machine for buyinggold-bearing items as claimed in claim 2 wherein said compilerpresenting a buy-sell contract to said seller and operationalinstructions for said machine via said display; and wherein the sellerresponsive data being stored via said compiler.
 4. A machine for buyinggold-bearing items as claimed in claim 3 wherein said error moduleincludes: an estimating module that estimates a volume of said itembased upon said images of the item; a distinguishing module thatdistinguishes non-metallic elements of said item from gold elements andestimates a differential volume therebetween; and a volume error modulethat generates a volume error based upon the differential volume and apredetermined volume threshold, said volume error being an item sizefault.
 5. A machine for buying gold-bearing items as claimed in claim 3wherein said error module includes: an error calculator computing anestimated weight based upon a gold purity value from said assay signals;a comparison module comparing the estimated weight and the weightsignals from said weigh station and generating the gold purity faultwhen a differential between the estimated weight and the weight signalsis beyond a predetermined weight-purity threshold.
 6. A machine forbuying gold-bearing items as claimed in claim 3 wherein said discountfactors include factors related to transaction fees, fraud-relatedfactors and the presence of non-gold elements in said gold-bearing item;said calculator determining the discounted market value of the itemincludes: an estimating module that estimates a volume of said itembased upon said images of the item; a distinguishing module thatdistinguishes non-metallic elements of said item from gold elements andestimates a differential volume therebetween; a first discount factormodule for changing a discount factor of non-gold elements based uponthe differential volume and a predetermined volume threshold; an errorcalculator computing an estimated weight based upon a gold purity valuefrom said assay signals; a comparison module comparing the estimatedweight and the weight signals from said weigh station; and a seconddiscount factor module for changing a discount factor for fraud when adifferential between the estimated weight and the weight signals isbeyond a predetermined weight-purity threshold.
 7. A machine for buyinggold-bearing items as claimed in claim 3 wherein said plurality ofseller interface modules include a scanner for a seller's governmentissued identification and a fingerprint scanner, the identificationscanner capturing for a seller's identifiable image and the fingerprintscanner capturing finger biometric data, said finger biometric data andseller's identifiable image being said seller's identity and biometricdata which is stored via said compiler.
 8. A machine for buyinggold-bearing items as claimed in claim 3 including a lock-out dooroperative to close said portal and a door actuator, said door actuatorclosing said door when said control processor and said complier via saiddisplay presents said instructions, and said door actuator opening saiddoor under the control of said rejection module.
 9. A machine for buyingitems containing gold, silver or platinum from consumers, the machinecoupled to a central office via a telecommunications system for trackingthe purchase of precious metal-bearing items and related transactions bythe machine and providing updates relative to the exchange rate marketprice data for precious metal to the machine, comprising: a securehousing; a vault within the housing; a portal in said housing leadinginboard to a processing platform and a plurality of processing stationsin the interior of said housing, said processing platform adapted toretain said item as deposited through said portal; said plurality ofprocessing stations including: a weigh station to weigh said item, animaging station for capturing images of the item, an assaying stationfor testing a purity of precious metal in said item, and a conveyor fordelivering a purchased item to said vault, said weigh station, imagingstation and assaying station respectively generating representativesignals for weight, item images and assaying data; a plurality of sellerinterface modules on and about an exterior of said housing including adisplay, an imaging system to capture one or more images of said seller,at least one scanner for obtaining seller's identity or biometric data,a keypad input interface and a bank card reader adapted to read aseller's bank card linked to a seller's account to be credited for thesale of said gold-bearing item; a control processor electronicallyobtaining respective weight, item images and assaying signals from saidprocessing stations and being disposed within said secure housing, saidcontrol processor; means for communicating with said central office toobtain exchange rate data for said precious metal from said centraloffice and outputting said exchange rate data to said control processor;means for determining a discounted market value for said preciousmetal-bearing item based upon said exchange rate data, said weightsignals, a purity based upon said assaying data, and discount factors; acalculator module as part of said control processor determining adiscounted market value for said precious metal-bearing item based uponsaid exchange rate data, said weigh signal, said assaying data, anddiscount factor; a compiler as part of said control processor, coupledto said display to compile and present instructions to the sellerregarding acceptance and rejection, and an offer to buy the item at thediscounted market value; said compiler obtaining and storing seller'sdata from said seller interface modules including seller responsive datafrom said instructions and including, seller images and scanner data forseller's identity and biometric data, said compiler also storingtransactional data; said compiler via said display presentinginformation related to the purchase of the item and government-relatedinquiries regarding the transaction to said seller, and said compilerthereafter capturing seller responsive government-related inquiry datain said compiler; an acceptance module as part of said control processoradapted to initiate a credit for the seller's account based upon aseller's confirmation of sale from said seller interface modules; andsaid conveyor, coupled to said acceptance module, delivering thepurchased item to said vault upon confirmation of sale; a rejectionmodule adapted to negate said acceptance module upon either a seller'srequest or a detected error signal; and, an error module for generatingthe error signal based upon one or more of: a precious metal purityfault, a weight fault, a discounted market value fault, and an item sizefault; and said compiler storing said error signal with said sellerdata.
 10. A machine for buying items as claimed in claim 9 wherein saidmeans for communicating with said central office includes a transactionmodule to effect the credit to the seller's account based upon saidseller's confirmation and the delivery of the item to the vault via saidacceptance module and to monitor seller's data, confirmation, a seller'srequest to reject the transaction and error signals; and wherein saidcomplier presenting a buy-sell contract to said seller and operationalinstructions for said machine via said display; and wherein the sellerresponsive data being stored via said compiler; the machine including alock-out door operative to close said portal and a door actuator, saiddoor actuator closing said door when said control processor and saidcomplier via said display presents said instructions, and said dooractuator opening said door under the control of said rejection module.11. A machine for buying items as claimed in claim 10 wherein saiddiscount factors include factors related to transaction fees,fraud-related factors and the presence of non-precious metal elements insaid item; said calculator determining the discounted market value ofthe item includes; an estimating module that estimates a volume of saiditem based upon said images of the item; a distinguishing module thatdistinguishes non-metallic elements of said item from precious metalelements and estimates a differential volume therebetween; a firstdiscount factor module for changing a discount factor of non-preciousmetal elements based upon the differential volume and a predeterminedvolume threshold; an error calculator computing an estimated weightbased upon a precious metal purity value from said assay signals; acomparison module comparing the estimated weight and the weight signalsfrom said weigh station; and a second discount factor module forchanging a discount factor for fraud when a differential between theestimated weight and the weight signals is beyond a predeterminedweight-purity threshold.
 12. A method for buying gold-bearing items fromconsumers comprising: providing a secure housing, a vault disposed inthe housing, said housing having a portal adapted to be closed, saidportal leading inboard to a plurality of processing stations in theinterior of said housing; providing an assaying tool in said housing; insaid secure housing while said portal is closed: weighing saidgold-bearing item, capturing images of the item, and testing a purity ofgold with said assaying tool; at an exterior location near said housing:capturing one or more images of said seller, scanning and obtainingseller's identity or biometric data and obtaining a seller's bank carddata, which bank card is linked to a seller's account to be credited forthe sale of said gold-bearing item; obtaining updates relative to anexchange rate market price data for gold; electronically obtaining theweight and assay data about said item; with a computer processingsystem: determining a discounted market value for said gold-bearing itembased upon said exchange rate data, weight of the item, a purity basedupon said assaying data, and discount factors; electronically presentinginstructions regarding acceptance and rejection to a seller of saiditem, and presenting an offer to buy the item at the determined marketvalue; electronically presenting information related to the purchase ofthe item and government-related inquires regarding the transaction tosaid seller; storing images of said seller, said seller's identity andbiometric data and bank card data, the seller's responses to thegovernment-related inquiries and also storing transactional data, all asseller data; obtaining a confirmation or sale from said seller andthereafter effecting the deposit of the item into said vault; obtaininga rejection from said seller and thereafter effecting the return of theitem to the seller; and negating any acceptance of the item due to anerror based upon one or more of: a gold purity fault, a weight fault, adiscounted market value fault, and an item size fault; and storing anindication of an error with said seller data.
 13. A method for buyinggold-bearing items as claimed in claim 12 including opening the portalwhile returning the item to the seller.
 14. A method for buyinggold-bearing items as claimed in claim 13 including rejecting the itemand returning the time to the seller if: the item weighs too much, or ifthe volume of the item is either too large or too small, or if thenon-metallic elements of the item compared to the gold-bearing elementsof the item are too large, or if a gold purity fault is determined basedupon a differential between an estimated gold purity weight and theitem's weight exceeds a threshold wherein the estimated gold purityweight is based upon an estimated volume of the item calculated by thevolume of item as per the item's images.
 15. A method for buyinggold-bearing items as claimed in claim 14 including discounting themarket value of the gold-bearing item due to fraud and transaction fees.16. A method for buying gold-bearing items as claimed in claim 14initiating a credit payment to said seller's account upon confirmationof said sale of said item.
 17. A method for buying items a preciousmetal-bearing item containing gold, silver or platinum items fromconsumers a seller comprising: providing a secure housing, a vaultdisposed in the housing, said housing having a portal adapted to beclosed, said portal leading inboard to a plurality of processingstations in the interior of said housing; providing an assaying tool forprecious metal in said housing; in said secure housing while said portalis closed: weighing said precious metal-bearing item, capturing imagesan image of the item, and testing a purity of precious metal with saidassaying tool to obtain assay data; at an exterior location near saidhousing: capturing one or more images of said seller, scanning andobtaining seller's identity data or seller's biometric data, andobtaining a seller's bank card data, which bank card is linked to aseller's account to be credited for the sale of said preciousmetal-bearing item; obtaining updates relative to an exchange ratemarket price data for precious metal; electronically obtaining theweight data and assay data about for said item; with a computerprocessing system: determining a discounted market value for saidprecious metal-bearing item based upon said exchange rate data, weightof the item data, a purity based upon said assaying assay data, and adiscount factors factor; electronically presenting instructionsregarding acceptance and rejection to a the seller of said item, andpresenting an offer to buy the item at the determined discounted marketvalue; electronically presenting information related to the purchase ofoffer to buy the item and government-related inquires regarding thetransaction offer to buy to said seller; storing said one or more imagesof said seller, said seller's identity and data or biometric data, andthe bank card data,; theobtaining and storing seller's responses to thegovernment-related inquiries and also storing transactional data;obtaining a confirmation of sale from said seller and thereaftereffecting the a deposit of the item into said vault,; alternative to theconfirmation, obtaining a rejection from said seller and thereaftereffecting thea return of the itemtoitem to the seller; and negating anyacceptance of the item the confirmation of sale due to an error basedupon one or more of a precious metal purity fault, a weight fault, adiscounted market value fault, and an item size fault; and storing anindication of an the error with said seller data.
 18. A method forbuying items as claimed in claim 17 including opening the portal whilereturning the item to the seller.
 19. A method for buying items asclaimed in claim 18 including rejecting the item and returning the timeto the seller if: the item weighs too much, or if the volume of the itemis either too large or too small, or if the non-metallic elements of theitem compared to the precious metal-bearing elements of the item are toolarge, or if a precious metal purity fault is determined based upon adifferential between an estimated gold purity weight and the item'sweight exceeds a threshold wherein the estimated precious metal purityweight is based upon an estimated volume of the item calculated by thevolume of item as per the item's images.
 20. A method for buying itemsas claimed in claim 19 including discounting the market value of theprecious metal-bearing item due to fraud and transaction fees.